Asseco Poland S.A. (ASOZY) Q1 2025 earnings summary

Executive summary

• Q1 2025 sales reached PLN 4.6 billion, up 8% year-over-year, with net profit rising 9% to PLN 136 million and growth across all key product groups and geographies.

• Eight acquisitions expanded presence in Israel, Poland, Spain, Egypt, US, India, and Canada, supporting growth in all business lines.

• All major segments contributed to growth, with especially strong results in public sector, payment, and ERP solutions.

• Non-IFRS operating profit rose 13% to PLN 565 million; non-IFRS net profit up 14% to PLN 156 million.

• The Group maintained a strong market presence in 62 countries and employed 33,716 people.

Financial highlights

• Sales revenues: PLN 4,577 million (+8%); proprietary software and services: PLN 3,618 million (+10%).

• EBITDA reached PLN 712 million (+10%); non-IFRS EBIT: PLN 565 million (+13%).

• Non-IFRS net profit: PLN 156 million (+14%); net profit attributable to shareholders: PLN 136 million (+9%).

• Free cash flow (LTM): PLN 2,196 million; cash conversion ratio: 102%; group cash at PLN 3,075 million.

• Gross profit on sales increased 14.5% to PLN 1,043.2 million.

Outlook and guidance

• Order backlog for 2025 stands at PLN 12.5 billion, up 12%, indicating strong revenue visibility.

• Management expects continued growth, especially in public and international segments, but some margin improvements are one-off effects.

• No specific forward-looking financial guidance provided.